The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has released its production results for the first seven months of 2008.
Accordingly, during the given period, the mill recorded a 6.8 percent increase in agglomerate production to 6.167 million mt but a 4.1 percent decrease in its iron ore production year on year to 849,000 mt.
During the first seven months, MMK saw a 7.7 percent increase in its coke production to 3.335 million mt, a 4.1 percent rise in its pig iron production to 5.740 million mt, a 4.9 percent increase in its crude steel production to 8.027 million mt and a 4.9 percent rise in its rolled steel output to 7.763 million mt year on year. During January-July MMK's commercial steel production amounted to 7.356 million mt compared with the same period last year.
During the first seven months of 2008, MMK registered a reduction in its percentage of exported steel production, down to 32.1 percent from 37 percent for the same period last year.
As MMK chairman Victor Rashnikov stated, MMK will continue to strengthen its position in the domestic market and to use its advantages to a maximum there, as the domestic market is considered to be a priority and to be strategically important for the company.